Hard money lenders will look for a property appraisal before funding any investment to make sure it’s worthwhile and avoid risks. Once they confirm it’s a good deal, the closing process can be just days away, which is something you wouldn’t normally get with a loan from a traditional bank.
What’s taken as collateral is the property itself, that’s what allows the lenders to have some security that it can actually pay the loan back instead of just evaluating your credit score and credit history.
The process is simple, reliable, and fast especially if you contact a hard money lender whose experience is directly related to the type of property or loan program you’re looking for. As an example, you might get in touch with a money lender that has experience providing loans to real estate investors who want to implement the BBBR strategy. The more specific the better.
If you’d like to invest in a property in Miramar, here are some facts you can consider:
Miramar is in Broward County and has a population of 141,191 residents. Some of the places it’s known for include the Miramar Regional Park and Miramar Cultural Center-ArtsPark.
In the real estate market in Miramar, the median home value is $340,376 and the standard rent per month is $2,471.
Miramar Housing Programs
The City also offers the following housing programs:
- First-time Homebuyer
- Homeownership Counseling
- Minor Home Rehabilitation
- Neighborhood Stabilization Program (NSP) Purchase Assistance and Home Rehabilitation (foreclosed properties only)
- Residential Utility Connection
- Rental Assistance Program
There’s also the Commercial Rehabilitation Program which focuses on providing financial help to local business owners located in the historic eastern area of the city.
Other Facts About Miramar You Should Know
- Per capita income is $28,697 and the recent job growth was 1.87%
- Local education stats show that 91.4% of residents have a high school diploma or higher and 27.3% have a bachelor’s degree or higher
Private money loans in Miramar, Florida are easy to get with one of the hard money lenders from the list we made below. Connect with them and take your first step towards your property investment goals.